MANILA (UPDATED) -- Prices of liquefied petroleum gas (LPG) rose on Thursday, February 1. 

Petron said it is increasing LPG prices by P0.95/kg, while Solane is upping prices by P0.91/kg.

CleanFuel, meanwhile, is increasing its Auto LPG's price by P0.50 per liter.

Republic Gas Corporation or Regasco has hikes its LPG prices P0.70/kg.

Regasco President Arnel Ty estimated a rollover or a slight reduction of up to P1.00/kilo last week.

But Ty said LPG contract prices in the international market rose on the last day of January.

Historically, LPG prices ease from February to June, but Ty said the contract price rose last January 31 by $10/metric ton.

As a result, LPG now retails at P930 to P1,111 per 11 kg cylinder after the upward price adjustment.

ANOTHER OIL PRICE HIKE NEXT WEEK?

For the fifth straight week, another fuel price hike looms for diesel, gasoline and kerosene.

Although prices have been going down since Tuesday, the average prices are still up from Monday to Wednesday:

Gasoline P1.03/L increase

Diesel P1.53/L increase

Kerosene P1.09/L increase

Jetti Petroleum President Leo Bellas sees another oil price hike next week, estimating that prices in the mean of Platts Singapore are likely to increase today and tomorrow.

For analyst Luis Limlingan, prices will remain elevated but not too high as OPEC will also consider other factors like recession and higher interest rate in calculating their next moves.

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--with reports from Alvin Elchico, ABS-CBN News